Monthly Indicators
U.S. existing-home sales edged up 0.8% month-over-month to a seasonally adjusted annual rate of 4.03 million units, exceeding economists’ expectations, although sales were down 0.7% year-over-year, according to the National Association of REALTORS® (NAR). On a monthly basis, sales increased in the Midwest, Northeast, and South but decreased in the West.
New Listings were up 18.8 percent to 905. Pending Sales decreased 23.5 percent to 407, the seventh consecutive month of year-over-year declines. Inventory grew 44.2 percent to 2,329 units.
Prices moved higher as Median Sales Price was up 6.9 percent to $320,000. Days on Market increased 6.9 percent to 62 days. Months Supply of Inventory was up 42.4 percent to 4.7 months, indicating that supply increased relative to demand.
Heading into June, there were 1.54 million units for sale across the country, a 6.2% increase from the previous month and a 20.3% improvement over the same period last year, representing a 4.6-month supply at the current sales pace, according to NAR. Despite the additional supply, home prices have continued to rise nationwide, albeit at a slower pace than during the pandemic, climbing 1.3% year-over-year to $422,800 as of last measure.
Housing Supply Overview
U.S. sales of new single-family homes decreased 13.7% month-over-month and 6.3% year-over-year to a seasonally adjusted annual rate of 623,000 units, according to the U.S. Census Bureau. The median sales price of a new home increased 3.7% from the previous month to $426,600. There were 507,000 new homes for sale going into June, equivalent to a 9.8-month supply at the current sales pace. For the 12-month period spanning July 2024 through June 2025, Pending Sales in the Western Upstate Association of REALTORS® region went up 1.0 percent overall. The price range with the largest pending sales gain was the $750,001 to $1,000,000 range, where sales increased 34.0 percent.
The overall Median Sales Price went up 4.0 percent to $309,900. The property type with the largest gain was the Condos segment, where prices improved 5.7 percent to $250,995. The price range that tended to sell the quickest was the $150,000 and Below range at 52 days. The price range that tended to sell the slowest was the $1,000,001 and Above range at 91 days.
Market-wide, inventory levels rose 44.2 percent. The property type with the largest gain was the Condos segment, where the number of properties for sale improved 56.8 percent. That amounts to 4.7 months of inventory for Single-Family Homes and 4.7 months of inventory for Condos.
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